December 13, 2007
Brazilian power generation giant MPX priced its IPO Wednesday at BRL1,006.63, just below the midpoint of its BRL935.00-BRL1,111.00, raising BRL1.92bn. If the underwriters exercise the greenshoe, a likely outcome, the company will have raised BRL2.2bn in the offering – a grand start for a company with a track record of less than three years. The shares were placed with institutional investors only, and the book, which was heard over 2x oversubscribed, included a number of large US institutions that made up 60% of the buyer base. UBS Pactual, Merrill Lynch, Itau BBA and Santander joint-led the offering.